NOT LISTED FOR SALE

Estimated Value: $1,377,000 - $1,557,000

8 Beds
4 Baths
3,488 Sq Ft
$430/Sq Ft Est. Value

Last Sold May 31, 2022

Last sale price $1,515,000 $434 Per Sq Ft

Est. 1% decrease in value since last sale

Current estimated payment $9,597/month

15 Days on Market

About This Home

As of May 2022

Accepting backup offers! This classic, charming historical fourplex has a unit mix of sizable 2BR/1BA units. Unit available providing fantastic opportunities for owner-users and traditional investors alike. Each unit has its own washer/dryer hookups. The two garage spaces housed in the rear of the lot are rented by current tenants via non-residential month-to-month contracts separate from their residential leases. Units are separately metered for gas & electricity. Offers backyard outdoor space.

Last Agent to Sell the Property

Ryan Craig

Kirklen Investment Group License #02156667 Listed on: 03/01/2022

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1913

Lot Details

  • 5,015 Sq Ft Lot
  • Two or More Common Walls
  • Density is 2-5 Units/Acre

Parking

  • 2 Car Garage

Home Design

  • 3,488 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry Room

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 3 / 11
  • Tax Tract Number 575
  • Assessor Parcel Number 7272011014
  • $782 per year additional tax assessments

Community Details

Overview

  • 4 Units
  • Willmore District Subdivision

Building Details

  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $1,570
  • Trash Expense $500
  • Water Sewer Expense $500
  • Operating Expense $25,690
  • Gross Income $93,481
  • Net Operating Income $67,791

Property Details

Home Type

Multi-Family

Year Built

Built in 1913

Lot Details

5,015 Sq Ft Lot

Parking

2

Listing Details

  • CapRate: 4.45
  • Property Attached: Yes
  • Subdivision Name Other: Willmore District (WM)
  • Water Sewer Expenses: 500.00
  • Zoning: LBPD10
  • Property Type: Residential Income
  • Parcel Number: 7272011014
  • Year Built: 1913
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 434.35

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 2.00

Utilities

  • Laundry: Yes
  • Laundry Features: Inside
  • Sewer: Public Sewer
  • Trash Expense: 500.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 5015.00
  • Lot Size Acres: 0.1151

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 93481.00
  • Gross Multiplier: 15.82
  • Gross Scheduled Income: 96372.00
  • Insurance Expense: 1570.00
  • Lot Size Area: 5015.0000 Square Feet
  • Net Operating Income: 67791.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Operating Expense: 25690.00
  • Rent Control: No
  • Total Expenses: 25690.00

Tax Info

  • Tax Block: 11
  • Tax Census Tract: 5758.02
  • Tax Lot: 3
  • Tax Tract Number: 575...
  • TaxOtherAnnualAssessmentAmount: 782.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 1, 2022
Closed on
Jun 27, 2022
Sold by
Olambiwonnu Bolade M
Bought by
Shore Front Propeprties Llc
Seller's Agent
Ryan Craig
Kirklen Investment Group
List Price
$1,525,000
Sold Price
$1,515,000
Premium/Discount to List
-$10,000
-0.66%
Current Estimated Value
$1,500,961

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$14,039
Avg. Annual Appreciation
-0.24%

Purchase Details

Closed on
Feb 23, 2022
Sold by
Schiro Steven P and Schiro Lisa
Bought by
Long Beach Trading Company Inc

Purchase Details

Closed on
Jan 16, 2007
Sold by
Gary Lisa
Bought by
Schiro Steven P

Purchase Details

Closed on
May 9, 2006
Sold by
Schiro Steven P
Bought by
Gary Lisa

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$560,000
Interest Rate
1.4%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
Sep 4, 2003
Sold by
Hazelzet Robert and The John R Meadows Living Trus
Bought by
Gary Lisa

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$294,000
Interest Rate
3.9%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Aug 29, 2003
Sold by
Meadows John R
Bought by
Meadows John R and The John R Meadows Living Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$294,000
Interest Rate
3.9%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Shore Front Propeprties Llc -- Ticor Title
Long Beach Trading Company Inc -- Ticor Title
Schiro Steven P -- Accommodation
Gary Lisa -- Financial Title Company La
Gary Lisa $420,000 Equity Title
Meadows John R -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Gary Lisa $560,000
Previous Owner Gary Lisa $294,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/31/2022 05/31/22 Sold $1,515,000 -0.7% $434 / Sq Ft
03/16/2022 03/16/22 Pending -- -- --
03/01/2022 03/01/22 For Sale $1,525,000 -- $437 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $20,426 $1,607,729 $1,045,289 $562,440
2024 $20,426 $1,576,206 $1,024,794 $551,412
2023 $20,084 $1,545,300 $1,004,700 $540,600
2022 $7,521 $562,690 $309,481 $253,209
2021 $7,353 $551,658 $303,413 $248,245
2019 $7,248 $535,297 $294,414 $240,883
2018 $7,013 $524,802 $288,642 $236,160
2016 $6,443 $504,426 $277,435 $226,991
2015 $6,193 $496,850 $273,268 $223,582
2014 $6,166 $487,119 $267,916 $219,203
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC22040476

California Regional Multiple Listing Service (CRMLS)

APN: 7272-011-014

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